Search Software Provider Elastic Posts Better-Than-Expected Financial Results

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Dreamstime

Enterprise search software provider

Elastic

posted better-than-expected results for its fiscal third quarter ended Jan. 31 and raised full-year guidance.

For the quarter, Elastic (ticker: ESTC) reported revenue of $157.1 million, up 39% from a year ago, and ahead of both the guidance range of $145 million to $147 million and the Wall Street analyst consensus forecast of $146.7 million. The company posted a non-GAAP loss of 4 cents a share, ahead of the guidance range of a loss of 14 cents to 16 cents a share, and the Street consensus forecast of a loss of 15 cents. Elastic said software-as-a-service revenues were $44.9 million, up 79%.

For the fiscal fourth quarter ending April 30, Elastic sees revenue of $158 million to $159 million, with a non-GAAP loss of 15 to 18 cents a share, ahead of the previous Street consensus at $152 million and a loss

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